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THE EFFICACY OF GREEK GOVERNMENT ECONOMIC TOOLS: 1995–2016
Global Economy Journal Pub Date : 2019-08-22 , DOI: 10.1142/s219456591950012x
MICHAELA MACK 1 , JONATHAN E. LEIGHTNER 1
Affiliation  

We use a statistical technique that solves the omitted variables problem of regression analysis to estimate the changes in gross domestic product (GDP), unemployment, and inflation of a one-unit change in government spending, exports, and interest rate for Greece using quarterly data from 1995 to 2016. Our primary findings are (1) driving the Greek economy using domestic demand creates a much more stable economy than trying to drive the Greek economy using exports and (2) cutting government spending and exports damage GDP more than equal increases help GDP. Both of these conclusions imply that IMF austerity and IMF support of exporting over domestic demand are counter-productive. Our results are not opposed to naturally occurring globalization, they are contrary to artificially encouraging trade as coerced by the IMF.

中文翻译:

希腊政府经济工具的功效:1995-2016

我们使用一种统计技术来解决回归分析的遗漏变量问题,使用季度数据估计希腊政府支出、出口和利率的一个单位变化的国内生产总值 (GDP)、失业率和通货膨胀的变化从 1995 年到 2016 年。我们的主要发现是:(1)利用内需推动希腊经济比试图利用出口推动希腊经济创造出更稳定的经济;(2)削减政府支出和出口对 GDP 的损害超过同等增长帮助国内生产总值。这两个结论都暗示国际货币基金组织的紧缩政策和国际货币基金组织对出口超过国内需求的支持会适得其反。我们的结果并不反对自然发生的全球化,而是与国际货币基金组织强制人为地鼓励贸易相反。
更新日期:2019-08-22
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